Irans Iranol Oil Company and Malaysian state-owned Petroliam Nasional Berhad, known as PETRONAS, signed a document to boost their cooperation on engine oil and industrial lubricants production.
The cooperation document was signed last Monday on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition underway in Tehran, Shana news agency reported.
Iranol Company, an independent lubricant oil company formed in 2003 when spun off by National Iranian Oil Companys (NIOC) to private investors, blends automotive and industrial lubricants at a plant in Tehran, which started operation in 1974. It operates base stock plants in Tehran and Abadan with capacities to produce 4,050 bpd Group I and 1,150 bpd Group I, respectively.
